Reliance,SBI and Tata Motors @Long term Support

By | June 16, 2011

TATA MOTORS

The 975-980 Band for TATA Motors is a good Long term support as shown in above chart.

If its gets broken only visible support is @ 900 Levels.

Stock has been forming lower lows and a close above 996 will negate that.

Buy around 980 With a sl of 972 Tgt 989,996,1003

Sell below 975 Tgt 964 and 955

 

SBIN

State Bank of India has formed a Head and Shoulder Pattern as shown in the Rectangle.

Neckline is placed around 2165.

Break of 2165 can drag the stock till 2000 in extremely short term where long term support for stock lies.

Sell below 2165 Tgt 2137 and 2099

Buy above 2197 Tgt 2219,2235(Valid for the Day)

 

 

Reliance

Reliance Weekly Chart is shown above.

The Poster Boy having maximum weight age in INDEX is also near its long term support of 882.

Breakdown of 882 will quickly take the stock back to 850 830 odd levels

Buy can be intitated around 882 Sl 871 Tgt 890,900,912

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